Gov. Andrew Cuomo’s proposed budget projected out-year deficits of $1.2 billion, $3 billion and $3.4 billion in state fiscal years 2018, 2019, and 2020 (before unspecified savings associated with adherence to a 2 percent state operating spending growth cap). These significant deficits assumed that New York’s economy would continue to grow and even accelerate over the next four years, which would make this recovery the longest in recent history.